XAU/USD Remains Below 1,480.00

On Thursday, the XAU/USD exchange rate traded sideways around the 1,475.00 level. During today’s morning, the rate was trading at the given level. Note that yellow metal is pressured by the 55– and 100-hour SMAs, as well the monthly PP at 1,476.00. Thus, it is likely that some downside potential could prevail in the market. Note that the exchange rate could gain support of the 200-hour moving average, currently located at 1,470.95. If the given support holds, it is likely that gold could continue to consolidate against the US Dollar…

Update: Bitcoin and cryptocurrency markets suddenly rebounded yesterday

Bitcoin and cryptocurrency markets suddenly rebounded yesterday, with the bitcoin price climbing back above the psychological $7,000 per bitcoin mark after a sell-off earlier in the week. The bitcoin price has been stuck in a downward trend for the past few months and previously dipped under $7,000 per bitcoin in November, only to jump back again. But should we have seen bitcoin’s rebound coming? A report out earlier this month found the cost of creating new bitcoin, a process known as mining, now averages around $6,300 per bitcoin—something that could mean bitcoin is perhaps…